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Tinubu reforms shift Nigeria from fragility to growth as global pressures mount(Photos)

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Nigeria’s economic reform programme under President Bola

Tinubu is steadily moving the country away from a cycle of economic vulnerability toward a more stable and growth driven path.

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, stated this during a press briefing at the Spring Meetings of the World Bank and the International Monetary Fund in Washington D.C.

He explained that the policy measures introduced since mid 2023 were designed not as temporary fixes but as structural changes that can sustain themselves over time while strengthening the economy against external shocks.

Edun noted that the global environment in which the meetings are taking place remains highly uncertain, with export tensions, trade disruptions and tightening financial conditions continuing to weigh on economies across the world.

Within this context, he said Nigeria’s approach is anchored on credible and disciplined macroeconomic management aimed at building lasting prosperity.

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According to him, key reforms including the move to a market reflective foreign exchange system and the deregulation of fuel pricing are beginning to restore balance and reduce long standing distortions in the economy.

He added that these measures are already improving Nigeria’s capacity to absorb shocks that originate from outside its borders.

On inflation, Edun acknowledged that pressures remain, largely driven by energy costs, food prices and logistics challenges. However, he pointed out that government is responding through targeted social protection programmes and ongoing agricultural interventions to cushion the impact on citizens.

The Minister stressed that fiscal discipline remains central to the reform effort, with a clear departure from inefficient subsidy regimes and a renewed focus on prudent resource management.

Providing an update on key indicators, Edun said economic growth has exceeded four per cent, external reserves have risen to about 50 billion dollars and inflation is beginning to ease gradually. He added that public debt remains within sustainable limits.

Beyond the numbers, he said the reforms are unlocking domestic production and restoring confidence within the private sector.

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The Minister cited major investments such as the Dangote Refinery as tangible evidence of renewed investor confidence, while noting that small and medium enterprises are benefiting from improved incentives.

He stated that Nigeria is now moving from stabilisation to a phase of accelerated growth and job creation, with power, agriculture, infrastructure and digital innovation expected to drive expansion.

Edun also disclosed that development partners at the meetings reaffirmed their support for Nigeria’s reform priorities, while investor interest continues to grow across energy, agribusiness and infrastructure sectors.

According to him, Nigeria is also pushing for reforms at the global level to reduce the cost of capital for developing countries, which remains a major constraint to growth.

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The Minister expressed confidence that the country’s standing in the global economy is improving as its reform efforts gain recognition, adding that the policies will ultimately deliver sustainable growth and reduce poverty.

He further commended members of the Nigerian delegation and reaffirmed the Federal Government’s commitment to attracting investment and strengthening development partnerships.

In the same vein, the Governor of the Central Bank of Nigeria, Olayemi Cardoso, said the country remains firmly committed to sustaining reforms and preserving macroeconomic stability.

He explained that the meetings provided an opportunity to review Nigeria’s progress and reinforce institutional capacity needed to support long term economic resilience.

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Cardoso noted that despite persistent global challenges, including geopolitical tensions and inflationary pressures, Nigeria has been able to contain external shocks through improved exchange rate stability and stronger reserves.

The Central Bank Governor emphasised that consistency in reform implementation is critical to building long term investor confidence.

Highlighting developments in the financial sector, he said the ongoing banking sector recapitalisation has mobilised 4.65 trillion naira in new capital.

As at the March 31 deadline, 33 banks had met the new capital requirements, significantly strengthening the resilience of the financial system and its ability to support economic growth.

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He added that the exercise attracted strong participation from both domestic and international investors, reflecting sustained confidence in Nigeria’s banking sector.

Cardoso expressed optimism that continued reforms will reinforce stability, sustain growth and attract further investment into the economy.

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Photos: We’re building infrastructure for a knowledge-driven economy – Tinubu

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President Bola Tinubu has said that his administration was building road infrastructure to lay the needed physical foundation for a knowledge-driven economy, stressing that education, justice, and innovation need roads to thrive.

Tinubu stated this in Abuja on Tuesday, while flagging off the construction of Collector Road CO1 in the Institutional Research District, from Nile University to Ring Road III.

Represented by the National Chairman of the All Progressives Congress, Prof Nentawe Yilwatda, the President said that the project included dualisation of the road from Baze University roundabout to Nile University, that is the Base University.

He noted that three years into his administration, the results were speaking out.

“From the Southern Parkway to the Institution and Research District, we are laying the physical foundation for a knowledge-driven economy.

“Today, we provide those roads that are needed to provide justice, education, and innovation to our people.

“To the university community, this road is more than a route. It is a connection between learning, law, and the future of our capital,” he said.

He pointed out that the Institution and Research District was designed to be the intellectual heart of Abuja, adding that universities, law chambers, research centers, and innovation hubs were growing in the area.

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He, however, stressed that ideas could not move if roads do not move and connect the heart and people together.

Tinubu further said: “Under the Renewed Hope Agenda, we made a choice to finish what was started and to start what we must finish.

“The first phase of this corridor connecting the Body of Benchers, Nile, and Base University is done and ready for commissioning. Today, we begin the next phase to Ring Road III to complete the loop.

“That is how we build a city—with a plan. Not a city of abandoned pieces. Infrastructure must be continuous, and it must also be useful to the people within the environment”.

He commended FCT Minister Nyesom Wike for turning FCT into a delivery agency, stressing that the transformation of Abuja under the minister’s watch is bold, visible and worthy of commendation.

He said, “Wike, your energy is unmatched. You took over a capital with many stalled projects and turned the FCTA into a delivery agency. ‘Mr. Projects’ is not a slogan, it is a record. You have revived sleeping roads, built new interchanges, and brought development to satellite towns. You have domesticated the Renewed Hope Agenda; street by street, district by district. The transformation of Abuja under your watch is bold, visible, and worthy of commendation. Well done, Minister Wike.”

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In his remarks, Wike explained that the project was considered following a plea by the Body of Benchers to provide access roads to ease the movement of people in and out of the area.

He assured FCT residents that the Tinubu administration would fulfill all the promises made to the people of FCT, adding that the project would be completed by January 2027.

The minister said that he would continue to deliver life-impacting projects to FCT residents as directed by Tinubu, stressing that the delivery would not be affected by 2027 political activities.

Earlier, acting Executive Secretary, Federal Capital Development Authority, Mr Richard Dauda, said that the Institutional Research District of the FCT is located in Phase III of the city.

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Dauda said that the area was planned to accommodate educational institutions like universities, research institutions, and other government institutions as provided in the Abuja master plan.

He added that the district was being developed in stages, with this project being a major intervention in the opening of this district.

He explained that the scope of the current stage involved the construction of Collector Road CO1, from the Nile University to Ring Road III with a total length of about six kilometres.

He added that the project also included the dualisation of the section from the Base University Junction to Nile University.

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Just in: Kidnapped APC Chairman, Another Victim Die in Abductors hideout

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Tragedy struck in northern Nigeria following reports that two abducted victims, including a former chairman of the All Progressives Congress (APC) in Koko/Besse Local Government Area of Kebbi State, have died while in captivity.

The deceased, Alhaji Muhammadu Mai Barga Besse, who previously served as APC chairman in the local government area, was reportedly held hostage by armed kidnappers for an extended period before his death. Another victim who was abducted alongside him was also confirmed dead, although his identity had not been officially disclosed at the time of filing this report.

The sad development comes months after disturbing videos emerged online showing the victims in dire conditions while being held captive in the notorious Birnin Gwari forest.

The footage sparked widespread concern among family members, political associates and members of the public who called for urgent intervention to secure their release.

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Despite efforts made during their captivity, both men were reportedly never reunited with their families before their deaths.

The incident has once again drawn attention to the persistent security challenges facing communities across northern Nigeria.

The Birnin Gwari axis, located along the Kaduna-Niger corridor, has become one of the country’s most dangerous regions, with criminal gangs and armed bandits frequently carrying out kidnappings, attacks on villages and other violent crimes.

Residents and stakeholders have repeatedly called on security agencies to intensify operations in the area and dismantle criminal hideouts within the vast forest, which has long served as a sanctuary for armed groups.

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News of the deaths has generated an outpouring of grief on social media, with many Nigerians expressing sadness over the fate of the victims and urging authorities to strengthen efforts against kidnapping and banditry.

Popular social media personality Denglishalhajii also shared the development on Instagram, mourning the victims and drawing attention to the growing insecurity affecting many parts of the region.

The deaths of the former APC chairman and his fellow captive have further underscored the human cost of the country’s security crisis, leaving families, friends and political associates in mourning while raising renewed concerns about the safety of citizens in vulnerable communities.

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Tinubu Seeks Constitutional Backing For State Police, Writes Senate

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President Bola Tinubu has asked the senate to approve a constitutional amendment bill seeking to establish state police across Nigeria as part of efforts to strengthen the country’s security architecture.

The request was contained in a letter dated June 15, 2026, and read on the floor of the senate on Tuesday by Godswill Akpabio.

In the correspondence, Tinubu said the proposed Constitution of the Federal Republic of Nigeria (Alteration) State Police Bill, 2026, seeks to amend the 1999 constitution to provide a legal framework for the creation of state police services.

The president said the bill is designed to address Nigeria’s evolving security challenges by introducing a dual policing structure that would allow both federal and state policing systems to operate within a constitutional framework.

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According to him, the proposal builds on previous legislative efforts by both chambers of the national assembly and contains additional safeguards to ensure effective implementation.

“This bill builds on the significant work already done in this regard by the House of Representatives and the Senate, and incorporates additional safeguards to ensure that the creation of a dual policing structure to address our nation’s evolving national security challenges, will be achieved quickly and effectively to the benefit of all Nigerians,” Tinubu said.

The president described the proposed legislation as a key component of his administration’s broader plan to reform Nigeria’s security system and improve the protection of lives and property.

“The proposed legislation is a critical component of our administration’s strategy to reorganize Nigeria’s security architecture to better protect our citizens, and I’m confident that the Senate will act quickly to consider and pass this bill,” he added.

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Tinubu urged lawmakers to give the proposal expeditious consideration.

Following the reading of the letter, Akpabio referred the bill to the senate committee on constitution review for further legislative action.

The committee was directed to report back to the chamber on the next legislative day.

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